De Beers propose partnerships to defy recession

JOHANNESBURG, (CAJ News) – DE Beers Group Chief Executive Officer, Bruce Cleaver, has called on the diamond sector to work together to overcome the volatility experienced in 2016.
Commenting on the value of different parts of the diamond pipeline finding ways to work together more effectively, Cleaver said the industry had made some good steps in this direction, with greater collaboration across the value chain to stimulate demand, to share industry insight and to support pipeline efficiency.
“But we must continue on this path and maximise the impact of our combined efforts to grow industry value.”
Cleaver said, however, it was vital for all parts of the value chain to benefit from industry progress.
“None of us in the diamond industry can succeed sustainably in isolation.
We must find ways to progress together, and we must continue to view challenges and opportunities from each other’s perspectives,” he said.
Alongside making a commitment for De Beers to continue investment in both proprietary and category-based consumer marketing activities, Cleaver added De Beers would launch a new and improved diamond verification instrument later in the year to help maintain trade and consumer confidence.
“Our new Automated Melee Screening instrument, the AMS2…will be a significant leap forward in the technological response to product integrity challenges and we believe the AMS2 will play a major role in bolstering confidence across the value chain.”
With operations in Botswana, Namibia and South Africa, De Beers is the world’s largest diamond producer by value.
– CAJ News